ISLAMABAD: International Monetary Fund’s board will hopefully approve 1.1billion dollar for Pakistan today.
The Pakistan’s case for the release of International Monetary Fund’s (IMF) final tranche of $1.1 billion will be presented in the global lender’s executive board meeting which is scheduled for today.
The IMF delegation has already recommended for the installment’s release. Meanwhile, sources said that the $1.1 billion tranche was expected to be approved if the case was presented before the board.
“Pakistan is waiting to receive the third and final installment under the SBA agreement. While the country has already received $1.9 billion from the IMF under the agreement,” the sources said.
They added that staying within the agreement, Pakistan had implemented the targets agreed with the IMF.
The sources further said that the economic team would hold talks with the Washington-based lender for a new loan programme in May.
The International Monetary Fund’s delegation will arrive in Pakistan around mid-May for negotiations under the new loan programme as Pakistan is seeking a new long-term Extended Fund Facility (EFF) after a current $3 billion Stand-By Arrangement (SBA).
